blur Group, the UK based company (North American headquarters in Dallas, Texas) that is reinventing commerce at blurgroup.com has raised $11.5m (£7.6m) in an over-subscribed secondary financing, through a strong show of support from existing and new investors. The extra funds will be used to accelerate development of blur’s s-commerce platform that addresses a $1tn market.
Philip Letts- blur Group CEO states: “Since our IPO in late 2012, blur’s growth has continued at an accelerated rate. The services commerce( s-commerce) market is now estimated at $1tn. Nearly 1,000 new businesses a month are adopting blur’s s-commerce system on the Global Services Exchange. These funds will give us the firepower to expand and really solidify our position; a significant portion will support the platform that underpins the exchange delivering massively scalable technology for services commerce”.
blur is a technology company that reinvents how businesses do commerce. Its Global Services Exchange delivers services differently, providing a new way to buy, manage and pay for core services. This s-commerce approach has been adopted by approximately 30,000 businesses over 141 different countries across the globe, revolutionizing the way that they buy, manage and pay for core services. We believe that s-commerce will experience the same market adoption in business services as e-commerce underwent in the consumer market sphere.
By Lolita A. Alford
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